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New Brunswick-based Masitek makes sensor-enabled ‘smart’ devices that help food manufacturers minimize damage and losses during processing and handling.
What was your very first export sale?
An egg processor in the United Kingdom through an agent we’d established a relationship with. That was in 2010.
What percentage of your company’s sales are derived from exports?
Export sales account for 90 per cent overall.
What is your biggest export market and what percentage of export sales go there?
Europe is our largest export market, accounting for 35 to 40 per cent.
How many production or office locations do you have?
We have our head office and manufacturing facility in Moncton [New Brunswick], and about 12 agents/distributors around the world.
Which products make up most of your exports?
Our MMAAZZ [Masitek’s industrial division] products are about 75 per cent, and aaggrrii [the company’s agricultural division] products are about 25 per cent.
What are two or three things you wish you had done differently during your export journey? Why?
We did our best (at the time), but I would have liked to have had contacts sooner in different markets. Finding the right people faster would have been helpful. Each market is different in terms of laws and regulations and we learned as we went, so it would have been helpful to have more information ahead of time.
How would you describe your export success at this point?
It’s off to a great start. We’ve really just scratched the surface of the global market for our products. There is a lot more sales potential that we haven’t tapped into yet. We have very little competition with our patent in place, and we are taking advantage of this every day.
If you could summarize your export journey in one word or phrase, what would it be?
Exciting. We’re ready for more.
What is the #1 characteristic that you believe every exporter should possess?
Patience. Every country is different, so patience is necessary. Be very proactive with your timelines.
What is the #1 thing new SMEs need to know about export and trade?
Focus. Find the markets where you have the highest potential for sales and go ‘all in’ with those markets. If you don’t focus, you’ll end up chasing your tail. It’s hard because you can get drawn in so many directions. A potential sale can tease you for several months. Put your energy on markets with the highest sales potentials and don’t waver.